Newcastle-based biotech firm FibroFind has secured investment from private equity firm Vespa Capital to accelerate the growth of its human tissue testing platform used in drug development.

Founded in 2019 as a spin-out from Newcastle University, FibroFind specialises in Precision Cut Tissue Slice (PCTS) technology, which uses human tissue to improve the accuracy of pre-clinical drug testing. The company’s platform is used to assess potential treatments for fibrosis-related conditions affecting the liver, kidneys and lungs.

The investment from Vespa Capital, which focuses on supporting UK-based high-growth businesses in life sciences and technology, is expected to fund FibroFind’s next stage of development. This includes broadening the application of its platform across more tissue types and expanding its role in early-stage drug discovery.

FibroFind’s platform is designed to preserve the structure and function of human tissues outside the body, offering an alternative to animal and traditional cell-based models. Its founders, Dr Jelena Mann and Professor Lee Borthwick, say the method enables drug developers to generate more reliable data before progressing to clinical trials.

The deal comes amid growing global interest in human-relevant models for drug development, driven by evolving regulatory standards and the limitations of animal testing. The market for ex-vivo testing platforms such as PCTS is expected to grow as pharmaceutical companies seek to improve trial success rates and reduce costs.

Corporate finance advice to FibroFind was provided by Grant Thornton UK, led by director Abi Godfrey. Legal support was provided by Mills & Reeve. Vespa Capital was advised by DLA Piper, with financial and commercial due diligence undertaken by BDO and Candesic respectively.

Commenting on the deal, FibroFind CEO Jelena Mann said: “Partnering with Vespa Capital marks an exciting step in FibroFind’s growth journey. This investment will allow us to scale further, broaden our reach across therapeutic areas, and deepen our impact in pre-clinical drug development.”

David Forbes, partner at Vespa Capital, said the firm saw strong potential in FibroFind’s platform: “Jelena and Lee have built a platform which allows customers to either progress to the clinical trial phase with confidence, based on the superior translational accuracy of the pre-clinical data, or to save customers hundreds of millions of pounds in failed clinical trials.”

FibroFind is based in a purpose-built facility in Newcastle and serves clients in the pharmaceutical and biotechnology sectors worldwide.